Western Kansas world., 1887-12-10

and new security paid in cash, thus finding
use for the surplus in the treasury. The
success of this plan, it is apparant,
must depend upon the volition of the
holders of the present bonds; and it is mot
entirely certain that the inducement which
must be offered them would result in more
financial benefit to the government than the
purchase of bonds, while the latter propo-
sltion would reduce the principal of the
debt by actual payment instead of extend
! ing it. The proposition to deposit the money
held by the government in banks through.
out the country for use by the people is, it
seems to me, exceedingly Objectionable in
principle, as establishing too close rela-
| honshlp between the operation of the gov
| ernment treasury and the business of the
country and too extensive q commingling
of their money, thus fostering an unnatural
| reliance in private business upon public
funds. If this scheme should be adopted it
should only be done as q temporary expedi-
ent to meet an urgent necessity. Legisla-
tive and executive effort should generally be
in the opposite direction and should have
tendency to divorce, as much and as fast as
can safely be done, the treasury depart
ment from private enterprise. OF course it
ls lot expected that unnecessary and ex-
travagant appropriations will be made for
the purpose of avoiding the accumulation of
an excess of revenue. Such expenditure be-
blUo tu0 OoIuOEduZdUlOu OI I'LL JUST COuC0p.
hons of public duty which it entails, stimu-
lates habit of reckless improvidence not
in the least consistent with the mission of
our people or the high and benefcient ideas
of our government.
THE GRAVITY OF THE SITUATION.
I have deemedit my duty to thus bring to
the knowledge of my countrymen as well as
the attention of their representatives charged
with the responsibility of legislative relief,
the gravity of our fusncial situation. The
failure Of congress heretofore to provide
against the dangers which it was quite evil
dent the very nature of the difficulty must
necessarily porduce, caused condition of
financial distress and apprehension since
your last adjournment which taxed to the
utmost all the authority and expendients
within executive control, and these appear
now to be exhausted. If disaster results
from the continued inaction of congress the
responsibility must rest where it belongs.
Through the situation thus far considered
is fraught with danger which should be fully
realized, and though it presents features of
wrong to the people as well as peril to the
country, it is but result growing out of
perfect and apparent cause constantly re-
producing the same alarming circumstances
"a congested national treasury and depleted
monetary condition in the business of the
country. 1t need hardly be stated that while
the present situation demands remedy, we
can only be saved from like predicament
in the future by the removal of it's cause.
Our scheme of taxation, by means of which
this needless surplus is taken from the peo-
pie and put into the public treasury, consists
of tariff or duty levied upon importations
from abroad and internal revenue taxation
which are, strictly speaking necessaries,
there appea rs to be no just cause
for complaint of this taxation by
the consumers of these articles,
and there seems to be nothing so we'll able
to bear the burden without hardship to any
portion of the people. But our present tar
if laws, the vicious, inequitable and illogi-
cal source of unnecessary taxation ought to
be at once revised and amended. These
laws, as their primary and plain effort, raise
the price to consumers of all articles i'm
ported and subject to duty by precisely the
sum paid for such duties. Thus the amount
of the duty measures the tax paid by those
who purchase for use these imported arti-
cles. Many of these things, however, are
raised or manufactured in our own country
and duties levied upon foreign goods and
products are called protection to these home
manufactures, because they render it posi-
sible for those of our people who are manu-
facturers to make these taxed articles and
sell them for price equal to that demanded
for the imported goods that have paid duty.
so it happens that where comparatively q
few use the imported articles, millions Of
our people who never use and never saw any
of the forejgn p5odne1E s1sa
I'M ss9 ~ 4 ~ r. -. ~ -